- The Competent Authority on Cartels: SAP is granted authorization to acquire Walkme
TECH GIANT might snag Israeli software firm Walkme, as per the German Federal Cartel Office's declaration. There aren't any substantial competition issues associated with this deal. Back in June, Europe's major software titan, based in Walldorf, revealed its intentions to purchase Walkme. This tech behemoth is ready to shell out 1.5 billion USD, which translates to around 1.38 billion EUR.
THE SOFTWARE serves to simplify the navigation of applications.
Walkme, an Israeli company, prides itself as one of the foremost providers of Digital Adoption Platforms (DAP). These platforms are gradually replacing traditional training methods in large organizations, such as when new employees are introduced. This software aids users in learning and utilizing computer and mobile apps through interactive guides. Its main objective is to streamline the complex web of IT systems used in businesses.
These platforms also offer insights into app usage and potential issues. Following this acquisition, SAP is bolstering its existing offerings, Signavio and LeanIX, which empower businesses in their IT transformation. In June, SAP CEO Christian Klein stated, "We're significantly enhancing our support for end-users, enabling them to swiftly adopt new solutions and features, thereby maximizing the returns on their IT investments."
Federal Cartel Office: Walkme to keep competing
The Federal Cartel Office asserts that the market for such solutions will persistently expand with the increasing demand for digital transformation support. Despite the acquisition, Walkme will still compete with other providers.
SAP anticipates the acquisition to wrap up in the third quarter. In the last fiscal year, Walkme observed a 9% surge in revenue, equivalent to approximately 245 million EUR. SAP's revenue during the same period was 31.2 billion EUR. Regarding future revenue prospects, SAP has remained tight-lipped. However, with access to a broader customer base, Walkme now has the potential to speed up its growth in the years to come.
The acquisition of Walkme by SAP will allow them to integrate the software's Digital Adoption Platforms into their existing offerings, such as Signavio and LeanIX. These platforms, including Walkme's software, help businesses streamline their IT systems and maximize returns on IT investments.
Post-acquisition, Walkme will continue to compete with other providers in the market for digital transformation solutions, as per the declaration by the Federal Cartel Office.
